CVS - Kiln Rd - Louisville, KY

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant CVS Pharmacy (the “Property” or “Asset”) located at 2311 Lime Kiln Road in Louisville, KY. The Property totals 13,255 SF and features a 25-year lease and 5.0% rent escalations every 5 years throughout the six (6), five-year renewal options. The lease structure is a NN lease and offers investors long-term cash flow with landlord expenses limited to roof & structure.

The Asset is located in an incredibly affluent pocket of Louisville, with 8,000+ residents in a one mile radius of the Property earning an average household income of $154,000+, over double the national average. The Property sits along Brownsboro Road (19,800 VPD) within a dense commercial corridor, down the street from a Kroger (1.3 million annual visitors) and adjacent to the Holiday Manor Shopping Center; 2.6 million annual visitors ranks Holiday Manor in the top 10% of neighborhood centers nationally, per placer.ai.

The Property features a 1.9 AC parcel directly across the street from Ballard High School (1,900+ students) and is fully leased to CVS (the “Tenant”). As the largest US pharmacy by total prescription revenue, CVS generated revenues of $358 billion in 2023, an ~11% increase year-over-year.

The Offering provides investors with the opportunity to acquire over 11.5 years of passive cash flow from a dominant retail-pharmacy tenant with an investment grade credit rating.